HC2 Holdings Inc. wholly owned subsidiary HC2 Holdings 2 Inc. issued $35 million aggregate principal amount of 11.000% senior secured bridge notes due Dec. 1, 2019, to Leucadia National Corp. unit Jefferies LLC in a private placement.

The bridge notes can be exchanged for additional 11.000% senior secured notes due 2019 of HC2 Holdings issued to Jefferies in future private placements.

HC2 Holdings 2 used the proceeds from the bridge note issuance to buy convertible debt of ANG Holdings Inc., for cash and for general corporate purposes. ANG used the cash proceeds, together with available capacity under existing credit facilities, to fund the acquisitions of Questar Fueling Co. and Constellation CNG LLC, and for general corporate purposes. HC2 Holdings holds a 49.9% equity interest in ANG.